Chapter 1.7, Problem 1.1ARQ

Explanation of Solution

Bell’s Law:

Bell’s Law is coined by Gordon Bell in 1972, which states that in every decade a new computer class is formed which establishes a new industry.

Importance of Bell’s Law to business professionals:

• Technology is changing rapidly and the processing power of computers, internet network speed, and increase in data storage keeps on changing every ten years (Bell’s Law).
• Its consequences are important to Business professionals as they need to access, evaluate and process the emerging technology and need to learn how these technological changes can affect business.

Moore’s Law:

Moore’s Law is coined by Gordon Moore, the co-founder of Intel Corporation, which states that since the integral circuit has been invented, the number of transistors per square inch in it has been doubled every two years. As the computers are getting exponentially faster, the cost of data processing is approaching zero.

Importance of Introduction to MIS in Business School:

• MIS stands for Management Information System and it refers to the study of technology, people and various organizations.
• By learning MIS in business school, one can learn to access and process emerging information technology to business.
• Through MIS one can learn how the market works and can gain marketable skills and perspective...